DRC Prime Minister Chairs Economic Committee to Strengthen Congolese Franc and Banking Sector
DRC Government Moves to Consolidate Franc Stability and Restore Banking Confidence
Prime Minister Judith Suminwa chaired a meeting of the Economic Situation Committee (ECC) last week to review the recent stabilization of the Congolese franc and outline measures to strengthen the country’s financial system.
The meeting brought together key government and financial leaders, including Deputy Prime Minister for the National Economy Daniel Mukoko, Finance Minister Doudou Fwamba, Budget Minister Adolphe Muzito, the Minister of Portfolio, and the Governor of the Central Bank of Congo (BCC).
Coordination Behind Franc Stability
In his report, Deputy Prime Minister Mukoko emphasized that the franc’s resilience against the US dollar was the result of deliberate policy coordination between the BCC and the Government.
“The Central Bank has adjusted reserve requirements, while the Government has tightened budgetary discipline through better management of tax deadlines. This synergy has strengthened the franc. Our objective remains an exchange rate that supports economic activity and protects household purchasing power,” Mukoko explained.
Addressing Banking System Concerns
A second key focus of the meeting was restoring confidence in the banking sector. Mukoko acknowledged that frequent seizures of corporate funds—sometimes ordered by public institutions or courts—were discouraging businesses from keeping deposits in banks.
“This phenomenon is driving financial flight. Funds that should be in banks are being kept elsewhere due to fear of seizures,” he warned.
The Government pledged to announce measures soon to secure deposits, reinforce banking liquidity, and encourage productive investment.
Wage Bill and Fiscal Discipline
The Committee also addressed the rising public wage bill, which is absorbing an increasing share of revenues and limiting resources for infrastructure and development.
“If the wage bill continues to grow unchecked, there will be less room to finance development. Courageous reforms are needed to maintain a balanced budget,” Mukoko stressed.
With inflation projected at 7.8% by year-end—its lowest in four years—the Government aims to consolidate stability by focusing on budgetary discipline, monetary prudence, and banking reforms.
The meeting underscored Prime Minister Suminwa’s determination to build a more resilient and competitive economy that safeguards the purchasing power of Congolese citizens. Concrete measures to support these objectives are expected in the coming days.
